Revolutionizing Rural Insurance with BANKIT

BANKIT is Transforming Insurance for the Unbanked Population

In a significant move towards financial inclusion, we are thrilled to announce our recent partnership with LIC and SBI General Insurance as a corporate insurance agent bearing IRDA license no. CA0837. This collaboration is set to revolutionize the insurance landscape for rural India. At BANKIT, we provide digital banking, financial, and payment services to unbanked and underserved populations across the nation. Through our local shop owners, known as BANKIT Agents, we are taking a giant step towards making insurance accessible and affordable for every individual, especially those residing in rural areas. 

Understanding the Partnership 

Our partnership with LIC and SBI General Insurance marks a significant milestone in our journey to empower rural India. It allows us to offer a wide range of insurance products to people who were previously excluded from these essential services. Let's delve into how this partnership benefits both the customers and our BANKIT Agents. 

Benefits for Customers: 

  • Accessibility: One of the primary challenges in rural areas is the lack of physical infrastructure for insurance services. Our BANKIT Agents act as the bridge between insurers and customers, making insurance accessible to those who need it the most. 
  • Affordability: Rural populations often face financial constraints. With this partnership, we can offer insurance products at competitive rates, ensuring that even those with limited resources can protect themselves and their families. 
  • Choice: LIC and SBI General Insurance bring a plethora of insurance options to the table. Customers can choose policies that suit their specific needs, whether it's life insurance, health insurance, or general insurance like crop insurance and property insurance. 
  • Ease of Transaction: Through our digital platform and with the help of our Agents, customers can purchase insurance policies, pay premiums, and make claims conveniently, eliminating the need for long journeys or paperwork. 

Benefits for BANKIT Agents: 

  • Increased Income: Our BANKIT Agents will have access to a new revenue stream by offering insurance services. They can earn commissions on policy sales and renewals, boosting their income significantly. 
  • Enhanced Reputation: Providing insurance services adds a layer of trust to the services offered by BANKIT Agents. This can help strengthen their relationships with existing customers and attract new ones. 
  • Training and Support: We will provide comprehensive training and support to our Agents, ensuring they have the knowledge and tools to effectively sell insurance products. 
  • Business Growth: This partnership not only benefits our Agents financially but also opens doors for expanding their businesses. They can attract a broader customer base and become hubs for a wide range of financial services. 

How It Works?

So, how exactly do BANKIT Agents facilitate this insurance revolution? Here's a simple breakdown: 

  • Agent Registration: Local shop owners who wish to become BANKIT Agents can easily register with us. They will undergo training to understand the insurance products and the digital platform. 
  • Customer Interaction: BANKIT Agents engage with their customers and assess their insurance needs. They explain the available insurance options and help customers choose the most suitable policy. 
  • Policy Purchase: Using our digital platform, Agents assist customers in purchasing insurance policies. The entire process is seamless and paperless, making it hassle-free for both parties. 
  • Premium Payments: Customers can conveniently pay their insurance premiums through the same platform used for policy purchase. No need to travel to distant offices or stand in long queues. 
  • Claims Assistance: In case of an unfortunate event, BANKIT Agents guide customers through the claims process, ensuring that they receive the support they need during difficult times. 

Our partnership with LIC and SBI General Insurance is not just a business endeavor; it's a commitment to empowering the underserved and unbanked population in rural India. Through our dedicated BANKIT Agents, we are bringing insurance within reach of millions, offering them financial security and peace of mind. 

If you are a local shop owner in a rural area, this partnership could be your opportunity to make a difference in your community while boosting your income. Join us in this journey towards a financially inclusive India, where everyone has the chance to safeguard their future. 

Together, we can build a stronger, more resilient rural India, one insurance policy at a time. 


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